COX SURVEY: DEALERS ARE UPBEAT on SPRING SALES THEY MOST FEAR THINGS THEY CAN't CONTROL ADVERTISER NEWS As They Reached Mid-Winter, U.S
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www.spotsndots.com Subscriptions: $350 per year. This publication cannot be distributed beyond the office of the actual subscriber. Need us? 888-884-2630 or [email protected] The Daily News of TV Sales Tuesday, March 10, 2020 Copyright 2020. COX SURVEY: DEALERS ARE UPBEAT ON SPRING SALES THEY MOST FEAR THINGS THEY CAN'T CONTROL ADVERTISER NEWS As they reached mid-winter, U.S. dealers answering a Walmart plans to hire 500 truck drivers in 2020, even with quarterly Cox Automotive survey looked forward to a its private fleet already at record levels, as surging Internet robust spring selling season and were taking on additional sales create a greater need for people to deliver those employees and investing in technology to further drive sales, orders, Yahoo Finance reports. The big-box retailer already Automotive News says. employs more than 9,000 drivers, but needs more on both But if the survey had been administered just weeks later, as coasts — especially in states like Washington, Pennsylvania, coronavirus concerns spooked Wall Street and threatened New Jersey and New York. Nevada will also be a key area for consumer confidence, overall scores in the latest Cox recruitment, according to Walmart. The hiring push comes Automotive Dealer Sentiment Index amid a nationwide truck driver shortage, and survey likely would have tumbled, Cox Chief increased demand to move more freight. Economist Jonathan Smoke said. For a retailer like Walmart, trucking is its As in the fourth quarter of 2019, franchised lifeblood, with drivers hauling freight from dealers cited factors beyond their control as distribution centers and vendors to service their top business concerns. They include Walmart’s 4,700 U.S. stores… A survey market conditions (34%), competition (32%), political climate of CEOs and business executives on the Fast Company (23%) and a lack of consumer incentives (21%). Impact Council finds that 66 percent have canceled travel The survey measures dealer optimism on a quarterly basis. plans over concerns surrounding the coronavirus. Sixty- Franchised dealers participating in the first-quarter 2020 five percent say that their customers’ purchases have been survey, conducted Jan. 27 through Feb. 10, were buoyed by negatively affected by the outbreak… Consumer reactions the strong start to the year, making them “the most optimistic to the coronavirus outbreak have led to a surge in the sale of we have seen since the beginning of 2018,” Smoke said. cleaning supplies and hand sanitizers. Fox 5 Atlanta says Used-vehicle sales remained a bright spot, though economic Kroger and Publix stores in Georgia have placed limits and political uncertainty weighed on dealers’ minds. The on products in these categories and others to address the survey overlapped with the conclusion of President Donald spike in demand... Ross Stores sees plenty of room for Trump’s impeachment trial. expansion as it continues to move into new markets, Chain Some economic concerns came to pass as February ended Store Age reports. The off-price chain opened 19 stores with U.S. stocks plunging. If the survey would have been and seven dd’s Discounts outlets across nine different taken “fresh off the carnage of the stock market declines,” states in February and March. The locations are part of the dealer sentiment scores would be “directionally lower, if not company’s plans to add approximately 100 new stores – 75 statistically significantly lower,” Smoke told Automotive News. Ross and 25 dd’s Discounts locations – during fiscal 2020... Some analysts expect coronavirus concerns will hinder new- Stitch Fix shares tumbled yesterday as investors fled the vehicle sales. Even so, Smoke said many dealers around the personal styling service, which issued a bleak outlook and U.S. don’t believe it will have a big impact. reported quarterly sales that missed analysts’ expectations, “My experience with dealers has been that they tend to calling its current business model for ordering women’s, be a little bit more that the glass is still half full rather than men’s and children’s apparel on a fixed basis into question, half empty,” Smoke said, “and so I feel like they may be still CNBC reports. The San Francisco-based company said it relatively optimistic about the year.” witnessed “heightened promotional activity across retail” While the Federal Reserve’s decision last week to make during the holidays. And so Stitch Fix’s current customers an emergency half-point cut in interest rates could bolster are spending less per order, on average, resulting in lower new-vehicle sales, Cox predicts the immediate impact will order values than the company had projected. be minor and that the move was designed to lower any risk that the coronavirus would trigger a recession. Perennial dealer concerns — market conditions and competition from other stores — topped the list of factors franchised dealers said were holding back business. The political climate tied with weather concerns for third on that list. Though dealers said they were (Continued on Page 3) NETWORK NEWS AVAILS In Contempt alum Christian Keyes is set as a series WYFF 4, the Hearst Television NBC affiliate in beautiful regular in At That Age, NBC’s ensemble drama pilot. 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